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The Boeing Company BA recently clinched a contract involving the F/A-18 E/F aircraft. The award has been offered by the Naval Supply Systems Command Weapon Systems Support, Philadelphia, PA.
Valued at $18.5 million, the contract is projected to be completed by January 2027. Per the terms of the deal, Boeing will provide for the repair of R2 trailing edge flaps used on the F/A-18 E/F aircraft.
Work related to this deal will be carried out in Jacksonville, FL.
What’s Favoring BA Stock?
As nations are striving to enhance their aerial supremacy amid a volatile geopolitical landscape, the demand for military aircraft worldwide is rising rapidly. In addition, the introduction of advanced fighter jets equipped with sophisticated technologies, such as enhanced stealth, precision targeting, and electronic warfare capabilities, thus continues to fuel growth in the fighter aircraft market. To this end, the Mordor Intelligence firm projects the global fighter aircraft market to witness a CAGR of 3.7% from 2024 to 2029, underscoring significant opportunities for key jet makers like Boeing.
Notably, Boeing plays a vital role in the fighter aircraft market through its research, development, production, and modification of manned and unmanned military aircraft and weapons systems. Its offerings span fighter and trainer aircraft, rotorcraft, tilt-rotor aircraft, and specialized commercial derivative aircraft, including anti-submarine and tanker platforms. Boeing’s portfolio features combat-proven jets like the F-15, P-8, T-7A Red Hawk, E/A-18G and C-17 Globemaster III.
In particular, BA’s F/A-18 Super Hornet stands out for its versatility, capable of executing nearly every tactical mission, including air superiority, day/night precision strikes, fighter escort, close air support, suppression of enemy air defenses, maritime strikes, reconnaissance, forward air control and aerial refueling. The latest Block III model, currently in service with the U.S. military, is the most advanced F/A-18 iteration, offering unparalleled networked capabilities and survivability.
With a robust product lineup and advanced technologies, Boeing is well-positioned to capitalize on the expanding fighter aircraft market, meeting the evolving needs of modern defense forces worldwide.
Growth Opportunities for BA’s Peers
Other aerospace manufacturers that are well established in the fighter aircraft market space and are thus expected to benefit from this market’s growth have been discussed below:
Lockheed Martin Corporation LMT: Manufacturer of some of the most advanced military jets in the world, LMT’s key jet programs include the F-35 Lightning II, F-22 Raptor, F-16 Fighting Falcon and C-130 Hercules.